THE PRESENTATION OF A MODEL FOR DETERMINING DEBT MATURITY STRUCTURE OF IRANIAN COMPANIES BASED ON VARIABLES OF GDP, INFLATION RATE AND MONEY SUPPLY

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HAJIHA ZOHREH; AKHLAGHI HASSAN ALI

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Journal: Financial Economics Year:2010 | Volume:4 | Issue:11 Page(s): 155-176

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Title

THE PRESENTATION OF A MODEL FOR DETERMINING DEBT MATURITY STRUCTURE OF IRANIAN COMPANIES BASED ON VARIABLES OF GDP, INFLATION RATE AND MONEY SUPPLY

Author(s)

HAJIHA ZOHREH | AKHLAGHI HASSAN ALI | Issue Writer Certificate

Keywords

DEBT MATURITY STRUCTUREQ2

GDPQ2

INFLATIONQ2

MONEY SUPPLYQ2

Abstract

One of the most crutial financial decesions is to select the proper mixture of short term and long term debts. This mixture may be affected by firm level factors as well as macro economics factors. Hence, the objective of this research is to investigate the effect of some macroeconomic variables on DEBT MATURITY STRUCTURE in companies listed in Tehran Stock Exchange (TSE). In order to do this, three hypotheses have been prepared; in the first hypothesis, the effect of GDP on DEBT MATURITY STRUCTURE, in the second hypothesis, the effect of INFLATION rate and in the third one, the effect of MONEY SUPPLY on DEBT MATURITY STRUCTURE have been analyzed. By regards of theoretical framework and research literature, we applied a regression model. The statistical population is comprised of manufacturing companies listed in TSE during the period of 2001 to 2008. We applied systematic filtering sampling to determine statistical sample and finally 92 companies were examined. The results from data analyzing through Panel Data, support the first and third hypotheses but do not support the second hypothesis. The research findings indicate that there is a positive significant relationship between GDP and DEBT MATURITY STRUCTURE.There exists also a negative significant relationship between MONEY SUPPLY and DEBT MATURITY STRUCTURE. However, there is no significant relationship between INFLATION rate and DEBT MATURITY STRUCTURE.

Cites

THE EFFECT ON STRUCTURE DEBT MATURITY ON ACCRUALS-BASED EARNINGS MANAGEMENT

References

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APA: Copy

HAJIHA, ZOHREH, & AKHLAGHI, HASSAN ALI. (2010). THE PRESENTATION OF A MODEL FOR DETERMINING DEBT MATURITY STRUCTURE OF IRANIAN COMPANIES BASED ON VARIABLES OF GDP, INFLATION RATE AND MONEY SUPPLY. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), 4(11), 155-176. SID. https://sid.ir/paper/229084/en

Vancouver: Copy

HAJIHA ZOHREH, AKHLAGHI HASSAN ALI. THE PRESENTATION OF A MODEL FOR DETERMINING DEBT MATURITY STRUCTURE OF IRANIAN COMPANIES BASED ON VARIABLES OF GDP, INFLATION RATE AND MONEY SUPPLY. JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT)[Internet]. 2010;4(11):155-176. Available from: https://sid.ir/paper/229084/en

IEEE: Copy

ZOHREH HAJIHA, and HASSAN ALI AKHLAGHI, “THE PRESENTATION OF A MODEL FOR DETERMINING DEBT MATURITY STRUCTURE OF IRANIAN COMPANIES BASED ON VARIABLES OF GDP, INFLATION RATE AND MONEY SUPPLY,” JOURNAL OF FINANCIAL ECONOMICS (FINANCIAL ECONOMICS AND DEVELOPMENT), vol. 4, no. 11, pp. 155–176, 2010, [Online]. Available: https://sid.ir/paper/229084/en

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